SoftBank Vision Fund lost $18 billion in the last year

• Son also said that SoftBank will not rescue companies that go bankrupt, though he noted that most of the fund's embattled investments are smaller companies.
• He also expressed optimism for WeWork: "After the end of this coronavirus situation — do you want to have a 20-year lease on an office? Maybe that's not the situation after coronavirus."
• SoftBank now values WeWork at $2.9 billion as of March 31, down from $7.3 billion just a quarter earlier — and $47 billion at its peak.

As for a second Vision Fund, Son reiterated that the company will continue to invest its own money and hold off on bringing on outside investors.

• "Because the performance of Vision Fund 1 is not that great, therefore we decided not to do the marketing for Vision Fund 2 for the partners for a while," he said.

• "However, having said that ... we may be able to see the companies that can boost our performance gradually. So once we see the better performance in Vision Fund 1 we may be able to have some offers from the people other than us to participate in Vision Fund 2."

The big picture: Earlier in the day, the company announced it plans to buy back as much as $4.7 billion of stock and that Alibaba founder Jack Ma is resigning from its board after 13 years.